IPA: //ˈbeɪkʃɒp//
KK: /ˈbeɪkˌʃɑp/
A place where baked goods, such as bread, cakes, and pastries, are made and sold.
I bought a delicious chocolate cake from the bakeshop for the party.
Bakeshop → It is formed from "bake" (from Old English *bacan*, meaning to cook by dry heat) and "shop" (from Old English *sceoppa*, meaning a place for trade or work). A bakeshop is a place where baking is done, specifically for selling baked goods.
Think of a place where cooking by dry heat ('bake') happens for trade ('shop') — that's what a bakeshop is.
No commonly confused words.